Bank buildings are photographed in Toronto’s financial district on June 27, 2018. The Canadian Press/Tijana Martin
The head of Canada’s banking regulator says major banks have significant capital on hand and he’s looking to work with them on putting it to use in the interests of the country.
Peter Routledge, who leads the Office of the Superintendent of Financial Institutions, says banks could make nearly a trillion dollars in additional loans and other forms of credit and still remain above capital requirements—a material amount relative to Canada’s $3-trillion economy.
